It is relatively easy for a foreigner to set up a business in Hong Kong, even if they are the only director and sole shareholder.
As well as being the ideal gateway to doing business in mainland China, company formation in the special administrative region has many advantages.
One of the significant benefits is that Hong Kong is not considered an offshore jurisdiction which means, while you can do business with mainland China, you can also trade with areas such as the EU and USA.
How to Set Up a Business in Hong Kong
This is a relatively straight forward process, but you will need to work with a company formations service.
- First, you need to choose a company name and ensure that it is not already being used in Hong Kong.
- Each member of the company, including shareholders and directors, will need a copy of their passport and a proof of their address.
- The company formation agents will then prepare the relevant documentation, e.g. a form NNC1 for incorporation, a form IRBR1 for the Business Registration and file it with the Hong Kong Companies Registry.
Assuming all the documentation you present for your business is correctly completed, registration can take place very quickly, and the certificates you need will be issued electronically within a day.
Why Choose International Formations to Set Up Your Business
It’s essential to have the right partner when setting up a business in Hong Kong if you are a foreign entity. At International Formations, we can assist you in all aspects of the paperwork as well as help you set up banking facilities for your business.
If you would like to find out more, contact our expert team today.